IMPLICIT ADDITIVE PREFERENCES: A GENERALIZATION OF THE CES

Paul Preckel (), John Cranfield and Thomas Hertel

No 28646, Staff Papers from Purdue University, Department of Agricultural Economics

Abstract: The CES is generalized by extension of the work of Hanoch (1975) resulting in implicit, direct and indirect relationships between utility and consumption. Expressions for substitution and income elasticities are developed and observed to be variable, rather than constant as in the CES case.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 11
Date: 2005
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:puaesp:28646

DOI: 10.22004/ag.econ.28646

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